24 Feb 2015

CCC works to keep rates down

3:44 pm on 24 February 2015

The Christchurch City Council will meet this week to consider how to keep rate increases to single figures over the course of the next three years.

Christchurch City Council

Christchurch City Council Photo: SUPPLIED

The council has an estimated shortfall of $1.2 billion, and is facing rate increases of up to 10 percent.

One of its options for trying to keep rate increases down is selling shares in some of its commercial assets.

The financial strategy will be debated at a meeting on Thursday, and will go out for public feedback in March, with a final decision made in June.

Christchurch mayor Lianne Dalziel said the financial challenges were huge and that the council needed input from residents to help make smart choices about paying for the shortfall.

Get the new RNZ app

for ad-free news and current affairs